No offer for Fiat Chrysler on the table, CEO says

Reuters Staff

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MONZA, Italy, Sept 2 (Reuters) - Fiat Chrysler has not received any offer for the company nor is the Italian-American carmaker working on any “big deal”, Chief Executive Sergio Marchionne said on Saturday.

Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company’s business plan to 2018.

The executive reiterated the company was working on a plan to “purify” its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018.

He said the time was not right for a spin-off of luxury brand Maserati and sporty Alfa Romeo and the two brands needed to become self-sustainable entities first. He said such a spin-off would not happen under his tenure, which lasts until April 2019. (Reporting by Agnieszka Flak)